LONDON – Major stock markets diverged yesterday, while oil prices extended a rally after Iran’s missile attack on Israel fanned fears of a Middle East-wide conflict. London’s top-tier Financial Times Stock Exchange (FTSE) 100 index rose slightly, helped by share-price gains for oil giants BP and Shell. Paris and Frankfurt fell in early afternoon deals....
ELIZABETH – Just a short drive from the New York skyline, giant cranes, containers and machinery stand motionless behind closed gates.The International Longshoremen’s Association (ILA), 85 000 members-strong, has launched its first strike since 1977 after weeks of deadlocked negotiations over a six-year labour agreement.“It’s not just money. It’s our future,” declared Herbert Hall, 76-year-old...
MANILA – Philippine president Ferdinand Marcos yesterday signed into law a measure that imposes a 12% value-added tax on foreign-based firms providing digital services in the country. The tax applies to a vast range of products and services, including search engines, software licensing, mobile apps, online games, webinars, music, advertising, warehousing and cloud services, website...
The results are in! The International Trade Centre (ITC) announced that the Namibia Investment Promotion and Development Board (NIPDB) was selected as the runner-up of the WTPO Awards 2024 under the category ‘Best Initiative to Ensure that Trade is Inclusive and Sustainable’. The WTPO Awards, which celebrate innovation and leadership in trade promotion, recognise Trade...
The Namibia Financial Institutions Supervisory Authority (Namfisa) has designated October as Consumer Protection Month, aimed at educating consumers about their financial rights and obligations. This initiative provides a valuable platform to highlight the critical importance of protecting and upholding consumer rights, shielding them from market misconduct, and ensuring they are informed about their responsibilities when...
The Government Institutions Pension Fund (GIPF) has informed its taxpaying and qualifying pensioners as well as spousal and child beneficiaries that the fund will make tax payment relief refunds on 28 November 2024. This is in accordance with the Income Tax Amendment Act, 2024 and the Government Gazette (No. 8442, 16 September 2024), effective 1...
NEW YORK – Dockworkers at major ports along the United States (US) East and Gulf Coasts went on strike yesterday after last-minute negotiations yielded no new labour contract, a stoppage expected to drag on the world’s largest economy just ahead of the November presidential election. The International Longshoremen’s Association (ILA) said the walkout by its...
South African Airways (SAA) will commence a third daily frequency connecting Windhoek to Johannesburg from 27 October 2024. This means daily services between Johannesburg ORT (JNB) and Hosea Kutako International Airport (WDH) commence just before 06h00 with the last flight departing Windhoek just before 18h00. “Air Connect Namibia welcomes the announcement of an additional third...
At the Namibia Investment Promotion and Development Board’s (NIPDB) annual general meeting held on 23 November 2023, Minister in the Presidency Christine//Hoebes indicated that following the completion of its initial 24-month operationalisation strategy, the NIPDB has effectively outgrown its infancy stage. As such, the minister directed the Advisory Board to review the entity’s governance structure,...
Diesel prices in Namibia will tomorrow dip below the intimidating N$20 per litre mark, while petrol prices are fast approaching the significant cost barrier. This is as the mines and energy ministry announced that petrol prices and the diesel prices of both variants (diesel 50 parts per million (ppm) and diesel 10ppm) will decrease by...